The AberdeenGroup’s recent survey regarding Financial Planning, Budgeting, and Forecasting offered some interesting observations regarding planning & budgeting processes and how companies are using these processes in these uncertain times. You can download a copy of this report from my website (www.dougneeper.com).
The three most interesting aspects of this report (to me), were:
-The % of best in class planning processes that finish their budgets before year end (68%)
-The % of best in class that have the ability to recast their budget on the ‘fly’ given changes in key variables (72%)
-Best in class budget accuracy as measured by the variance between budget and actuals (108%)
Retrospectively, Calpine measured up pretty well! It always struck me odd as P*B NEVER finished its budgets for the new year, prior to the end of the end of the old year.
Filed under: Business Tagged: | Business Planning
